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Adient plc (NYSE: ADNT) posts Q3 net sales of $3,929 million and $138 million free cash flow

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8-K

Rhea-AI Filing Summary

Adient plc reported third‑quarter 2026 results for the three months ended June 30, 2026. Net sales were $3,929 million, up from $3,741 million a year earlier. Earnings before interest and income taxes were $114 million versus $118 million. Net income attributable to Adient was $25 million, down from $36 million, and diluted earnings per share were $0.32 versus $0.43.

On an adjusted basis, adjusted EBIT was $142 million and adjusted EBITDA was $225 million, essentially in line with the prior year’s $226 million; the adjusted EBITDA margin was 5.7% compared with 6.0%. Adjusted net income attributable to Adient was $38 million in both periods, with adjusted diluted earnings per share of $0.48 versus $0.45.

Cash generation remained solid. Cash provided by operating activities was $205 million compared with $172 million, and free cash flow was $138 million versus $115 million. As of June 30, 2026, cash and cash equivalents were $924 million, total debt was $2,388 million, net debt was $1,464 million, and the net leverage ratio was 1.66.

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Filing Explained

The furnished results release is not a filed Section 18 disclosure.

On August 5, 2026, Adient plc furnished its third-quarter results for the period ended June 30, 2026 in Exhibit 99.1; the 8-K says the release is not “filed” under Section 18 or incorporated by reference unless expressly stated.

Form 8-K reports specified material events within four business days, with item numbers identifying the event category; this filing uses Item 2.02 for results of operations and financial condition.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net sales $3,929 million Three months ended June 30, 2026 net sales
Net income attributable to Adient $25 million Three months ended June 30, 2026
Diluted earnings per share $0.32 Three months ended June 30, 2026
Adjusted diluted earnings per share $0.48 Three months ended June 30, 2026 adjusted EPS
Free cash flow $138 million Three months ended June 30, 2026
Cash provided by operating activities $205 million Three months ended June 30, 2026
Net debt $1,464 million As of June 30, 2026
Net leverage ratio 1.66 Net debt divided by adjusted EBITDA, June 30, 2026
Adjusted EBITDA financial
"Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and equity based compensation."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Free cash flow financial
"Free cash flow is defined as cash provided by operating activities less capital expenditures."
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Net leverage ratio financial
"Net leverage ratio is calculated as net debt divided by adjusted EBITDA for the last four quarters."
The net leverage ratio measures how much debt a company has compared to its available assets or earnings, after accounting for its cash and liquid assets. It helps investors understand how heavily a company relies on borrowed money to finance its operations and growth. A higher ratio indicates greater financial risk, while a lower ratio suggests a more cautious approach to borrowing.
Noncontrolling interests financial
"Income attributable to noncontrolling interests was 17 and 23 for the periods presented."
The portion of a subsidiary’s equity and profits that belongs to outside owners rather than the parent company; when a parent reports consolidated results it includes the whole subsidiary but shows the noncontrolling slice separately. Think of a company’s subsidiary as a pie where the parent owns most slices but some are held by other investors — noncontrolling interests tell you how much of the pie and its future earnings don’t belong to the parent, which affects how much profit and net assets are truly attributable to the parent’s shareholders.
Restructuring and impairment costs financial
"Reflects restructuring charges for costs that are probable and reasonably estimable and one-time asset impairments."
Net sales $3,929 million compared with $3,741 million for the three months ended June 30, 2025
Net income attributable to Adient $25 million compared with $36 million for the three months ended June 30, 2025
Diluted EPS $0.32 compared with $0.43 for the three months ended June 30, 2025
Adjusted diluted EPS $0.48 compared with $0.45 for the three months ended June 30, 2025
Adjusted EBITDA $225 million compared with $226 million for the three months ended June 30, 2025
Free cash flow $138 million compared with $115 million for the three months ended June 30, 2025

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FAQ

How did Adient (ADNT) perform financially in Q3 2026?
Adient generated net sales of $3,929 million in Q3 2026, up from $3,741 million a year earlier. Net income attributable to Adient was $25 million, compared with $36 million, and diluted EPS was $0.32 versus $0.43.

What were Adient (ADNT)’s key non-GAAP earnings metrics for Q3 2026?
Adient reported adjusted EBIT of $142 million and adjusted EBITDA of $225 million for Q3 2026, very close to the prior year’s $226 million. Adjusted diluted EPS was $0.48, compared with $0.45 for the same quarter in 2025.

What free cash flow did Adient (ADNT) generate in Q3 2026?
Adient produced free cash flow of $138 million in Q3 2026, up from $115 million in Q3 2025. This came from operating cash flow of $205 million and capital expenditures of $67 million during the quarter.

What was Adient (ADNT)’s leverage and debt position at June 30, 2026?
At June 30, 2026, Adient had total debt of $2,388 million and cash of $924 million, resulting in net debt of $1,464 million. The company reported a net leverage ratio of 1.66 based on adjusted EBITDA for the last four quarters.

How did Adient (ADNT)’s profit margins look in Q3 2026?
For Q3 2026, Adient’s EBIT margin was 2.9%, while adjusted EBIT margin was 3.6%. Adjusted EBITDA margin was 5.7%, compared with 6.0% in the prior-year quarter, based on net sales of $3,929 million.

How many shares were outstanding for Adient (ADNT) in Q3 2026?
Adient reported 77.1 million shares outstanding at period end on June 30, 2026. The diluted weighted average shares outstanding were 79.2 million for the quarter, compared with 83.7 million in the same quarter of 2025.
0001670541FALSE00016705412026-05-062026-05-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): August 5, 2026

ADIENT PLC
(Exact name of registrant as specified in its charter)

Ireland001-3775798-1328821
(State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification Number)
 25 North Wall Quay
Dublin 1, Ireland D01 H104
(Address of principal executive offices)

Registrant’s telephone number, including area code: 734-254-5000

Not applicable
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of classTrading symbol(s)Name of exchange on which registered
Ordinary Shares, par value $0.001ADNTNew York Stock Exchange


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17     CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐









































Item 2.02 Results of Operations and Financial Condition.

On August 5, 2026, Adient plc (the “Company”) issued a news release announcing its financial results for the third quarter ended June 30, 2026. The news release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information contained in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
EXHIBIT INDEX
Exhibit No.Exhibit Description
99.1
Adient plc News Release dated August 5, 2026
104
Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document).




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ADIENT PLC
Date: August 5, 2026
By:/s/ Heather M. Tiltmann
Name:Heather M. Tiltmann
Title:
Executive Vice President, Chief Legal and Human Resources Officer, and Corporate Secretary


Exhibit 99.1
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Appendix
Page 1

Adient plc
Condensed Consolidated Statements of Income (Loss)
(Unaudited)
Three Months Ended
June 30,
(in millions, except per share data)20262025
Net sales$3,929 $3,741 
Cost of sales3,694 3,504 
Gross profit235 237 
Selling, general and administrative expenses136 129 
Restructuring and impairment costs5 7 
Equity income20 17 
Earnings before interest and income taxes114 118 
Net financing charges48 51 
Other pension expense1 1 
Income before income taxes65 66 
Income tax provision23 7 
Net income42 59 
Income attributable to noncontrolling interests17 23 
Net income attributable to Adient$25 $36 
Diluted earnings per share$0.32 $0.43 
Shares outstanding at period end77.1 81.2 
Diluted weighted average shares79.2 83.7 


Appendix
Page 2

Adient plc
Condensed Consolidated Statements of Financial Position
(Unaudited)

June 30,September 30,
(in millions)20262025
Assets
Cash and cash equivalents$924 $958 
Accounts receivable - net
1,881 1,873 
Inventories729 695 
Other current assets652 607 
Current assets4,186 4,133 
Property, plant and equipment - net1,385 1,409 
Goodwill1,799 1,807 
Other intangible assets - net298 319 
Investments in partially-owned affiliates276 276 
Assets held for sale12 9 
Other noncurrent assets1,003 1,001 
Total assets$8,959 $8,954 
Liabilities and Shareholders' Equity
Short-term debt$9 $11 
Accounts payable and accrued expenses3,122 2,942 
Other current liabilities685 734 
Current liabilities3,816 3,687 
Long-term debt2,379 2,386 
Other noncurrent liabilities676 723 
Redeemable noncontrolling interests75 95 
Shareholders' equity attributable to Adient1,729 1,766 
Noncontrolling interests284 297 
Total liabilities and shareholders' equity$8,959 $8,954 



Appendix
Page 3

Adient plc
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Three Months Ended
June 30,
(in millions)20262025
Operating Activities
Net income attributable to Adient$25 $36 
Income attributable to noncontrolling interests17 23 
Net income42 59 
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation74 71 
Amortization of intangibles12 12 
Pension and postretirement benefit expense2 2 
Pension and postretirement contributions, net(8)(2)
Equity in earnings of partially-owned affiliates, net of dividends received30 2 
Deferred income taxes(15)(16)
Equity-based compensation9 10 
Other— (5)
Changes in assets and liabilities:
Receivables113 117 
Inventories7 20 
Other assets64 (62)
Accounts payable and accrued liabilities(133)(28)
Accrued income taxes8 (8)
Cash provided by operating activities205 172 
Investing Activities
Capital expenditures(67)(57)
Sale of property, plant and equipment6 8 
Settlement of derivatives3 — 
Business acquisitions(4)— 
Cash used by investing activities(62)(49)
Financing Activities
Drawdown of ABL revolver and other bank borrowings3 — 
Repayment of ABL revolver and other bank borrowings(3)(2)
Repayment of long-term debt(2)(2)
Share repurchases(30)(50)
Dividends paid to noncontrolling interests(10)(9)
Cash used by financing activities(42)(63)
Effect of exchange rate changes on cash and cash equivalents(8)46 
Increase in cash and cash equivalents$93 $106 

Appendix
Page 4

Footnotes


1. Segment Results

Adient manages its business on a geographic basis and operates in the following three reportable segments for financial reporting purposes: 1) Americas, which is inclusive of North America and South America; 2) Europe, the Middle East and Africa ("EMEA") and 3) Asia Pacific/China ("Asia").

Adient evaluates the performance of its reportable segments using an adjusted EBITDA metric defined as income (loss) before income taxes and noncontrolling interests, excluding net financing charges, restructuring and impairment costs, restructuring related-costs, net mark-to-market adjustments on pension and postretirement plans, transaction gains/losses, purchase accounting amortization, depreciation, stock-based compensation and other non-recurring items. Also, certain corporate-related costs are not allocated to the segments. The reportable segments are consistent with how management views the markets served by Adient and reflect the financial information that is reviewed by its chief operating decision maker.

Financial information relating to Adient's reportable segments is as follows:

(in millions)Three months ended June 30, 2026
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,928 $1,211 $810 $(20)$3,929 
Adjusted EBITDA$125 $14 $107 $(21)$225 
Adjusted EBITDA margin6.5 %1.2 %13.2 %N/A5.7 %
Three months ended June 30, 2025
AmericasEMEAAsiaCorporate/EliminationsConsolidated
Net sales$1,760 $1,268 $721 $(8)$3,741 
Adjusted EBITDA$112 $21 $113 $(20)$226 
Adjusted EBITDA margin6.4 %1.7 %15.7 %N/A6.0 %

Appendix
Page 5

The following is a reconciliation of Adient's reportable segments' adjusted EBITDA to income before income taxes:

Three Months Ended
June 30,
(in millions)20262025
Adjusted EBITDA
Americas$125 $112 
EMEA14 21 
Asia107 113 
Subtotal246 246 
Corporate-related costs (1)
(21)(20)
Restructuring and impairment costs (2)
(5)(7)
Purchase accounting amortization (3)
(12)(12)
Restructuring related activities (4)
(8)(7)
Equity based compensation(9)(10)
Depreciation(74)(71)
Other items (5)
(3)(1)
Earnings before interest and income taxes$114 $118 
Net financing charges(48)(51)
Other pension expense(1)(1)
Income before income taxes$65 $66 

Refer to the Footnote Addendum for footnote explanations.


2. Earnings Per Share

The following table reconciles the numerators and denominators used to calculate basic and diluted income per share:

Three Months Ended
June 30,
(in millions, except per share data)20262025
Income available to shareholders
Net income attributable to Adient$25 $36 
Weighted average shares outstanding
Basic weighted average shares outstanding78.1 83.5 
Effect of dilutive securities:
Unvested restricted stock and unvested performance share awards1.1 0.2 
Diluted weighted average shares outstanding79.2 83.7 
Earnings per share:
Basic$0.32 $0.43 
Diluted$0.32 $0.43 

The effect of common stock equivalents which would have been anti-dilutive was excluded, and immaterial, from the calculation of diluted earnings per share for the three months ended June 30, 2026 and 2025.

Appendix
Page 6

3. Non-GAAP Measures

Adjusted EBIT, adjusted EBIT margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income attributable to Adient, adjusted effective tax rate, adjusted earnings per share, adjusted equity income, adjusted interest expense, free cash flow, net debt, and net leverage ratio as well as other measures presented on an adjusted basis are not recognized terms under U.S. GAAP and do not purport to be alternatives to the most comparable U.S. GAAP amounts. Since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. Management uses the identified non-GAAP measures to evaluate the operating performance of Adient and its business segments and to forecast future periods. Management believes these non-GAAP measures assist investors and other interested parties in evaluating Adient's on-going operations and provide important supplemental information to management and investors regarding financial and business trends relating to Adient's financial condition and results of operations. Investors should not consider these non-GAAP measures as alternatives to the related GAAP measures. Reconciliations of non-GAAP measures to their closest U.S. GAAP equivalent are presented in the corresponding tables that follow the definitions below. Reconciliations of non-GAAP measures related to guidance for any future period have not been provided due to the unreasonable efforts it would take to provide such reconciliations.

Table
(a)Adjusted EBIT is defined as earnings before income taxes and noncontrolling interests excluding net financing charges, restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, other significant non-recurring items, and net mark-to-market adjustments on pension and postretirement plans. Adjusted EBIT margin is adjusted EBIT as a percentage of net sales.
(b)Adjusted EBITDA is defined as adjusted EBIT excluding depreciation and equity based compensation. Certain corporate-related costs are not allocated to the business segments in determining adjusted EBITDA. Adjusted EBITDA margin is adjusted EBITDA as a percentage of net sales.
(c)Adjusted net income attributable to Adient is defined as net income (loss) attributable to Adient excluding restructuring, impairment and related costs, purchase accounting amortization, transaction gains/losses, other significant non-recurring items, net mark-to-market adjustments on pension and postretirement plans, the tax impact of these items and other discrete tax charges/benefits.
(d)Adjusted income tax expense is defined as income tax expense adjusted for the tax effect of the adjustments to income before income taxes and other discrete tax changes/benefits. Adjusted effective tax rate is defined as adjusted income tax provision as a percentage of adjusted income before income taxes.
(e)Adjusted diluted earnings per share is defined as adjusted net income attributable to Adient divided by diluted weighted average shares.
(f)Adjusted equity income is defined as equity income excluding amortization of Adient's intangible assets related to its non-consolidated joint ventures and other unusual or non-recurring items impacting equity income.
(g)Adjusted interest expense is defined as net financing charges excluding unusual or one-time items impacting interest expense.
(h)Free cash flow is defined as cash provided by operating activities less capital expenditures.
(i)Net debt is calculated as total debt (short-term and long-term) less cash and cash equivalents.
(j)Net leverage ratio is calculated as net debt divided by adjusted EBITDA for the last four quarters.






Appendix
Page 7

Reconciliations of non-GAAP measures to their closest US GAAP equivalent:


(a) & (b) Adjusted EBIT and Adjusted EBITDA

The following table reconciles net income to EBIT, adjusted EBIT and adjusted EBITDA:

Three Months Ended
June 30,
(in millions)20262025
Net income$42 $59 
Net financing charges48 51 
Other pension expense1 1 
Income tax expense23 7 
Earnings before interest and income taxes (EBIT)$114 $118 
EBIT adjustments:
Restructuring and impairment costs (2)
5 7 
Purchase accounting amortization (3)
12 12 
Restructuring related activities (4)
8 7 
Other items (5)
3 1 
EBIT adjustments total28 27 
Adjusted EBIT$142 $145 
EBITDA adjustments:
Depreciation74 71 
Equity based compensation9 10 
Adjusted EBITDA$225 $226 
Net sales$3,929 $3,741 
Net income as % of net sales1.1 %1.6 %
EBIT as % of net sales2.9 %3.2 %
Adjusted EBIT as % of net sales3.6 %3.9 %
Adjusted EBITDA as % of net sales5.7 %6.0 %

Refer to the Footnote Addendum for footnote explanations.


(c) Adjusted net income attributable to Adient

The following table reconciles net income attributable to Adient to adjusted net income attributable to Adient:

Three Months Ended
June 30,
(in millions)20262025
Net income attributable to Adient$25 $36 
Net income adjustments:
EBIT adjustments total - see table (a) & (b)28 27 
Tax impact of EBIT adjustments and other tax items - see table (d)(13)(23)
Impact of adjustments on noncontrolling interests (6)
(2)(2)
Net income adjustments total13 2 
Adjusted net income attributable to Adient$38 $38 

Appendix
Page 8


Refer to the Footnote Addendum for footnote explanations.


(d) Adjusted income tax expense and effective tax rate

The following table reconciles income before income taxes to adjusted income before income taxes, reconciles income tax expense to adjusted income tax expense and presents the related effective tax rate and adjusted effective tax rate:

Three months ended June 30,
20262025
(in millions, except effective tax rate)Income before income taxesIncome tax expense (benefit)Effective tax rateIncome before income taxesIncome tax expense (benefit) Effective tax rate
As reported$65 $23 35.4 %$66 $7 10.6 %
Adjustments
EBIT adjustments - see table (a) & (b)28 3 10.7 %27 1 3.7 %
Tax audit closures and statute expirations— (1)nm— 16 nm
UTP establishments and interest— (3)nm— (1)nm
Intellectual property rights transfer— 11 nm— — nm
FX remeasurements of tax balances— 3 nm— 7 nm
Subtotal of adjustments28 13 46.4 %27 23 85.2 %
As adjusted$93 $36 38.7 %$93 $30 32.3 %

nm - not meaningful


(e) Adjusted diluted earnings per share

The following table shows the calculation of diluted earnings per share on an adjusted basis:

Three Months Ended
June 30,
(in millions, except per share data)20262025
Numerator:
Adjusted net income attributable to Adient - see table (c)$38 $38 
Denominator:
Basic weighted average shares outstanding78.1 83.5 
Effect of dilutive securities:
Unvested restricted stock and unvested performance share awards1.1 0.2 
Diluted weighted average shares outstanding79.2 83.7 
Adjusted diluted earnings per share$0.48 $0.45 



Appendix
Page 9

The following table reconciles diluted earnings per share as reported to adjusted diluted earnings per share (see table (c) for corresponding dollar amounts):

Three Months Ended
June 30,
20262025
Diluted earnings per share as reported$0.32 $0.43 
EBIT adjustments total0.35 0.31 
Tax impact of EBIT adjustments and other tax items(0.16)(0.27)
Impact of adjustments on noncontrolling interests (0.03)(0.02)
Adjusted diluted earnings per share$0.48 $0.45 


(f) Adjusted equity income

The following table reconciles equity income to adjusted equity income:
Three Months Ended
June 30,
(in millions)20262025
Equity income$20 $17 
Equity income adjustments:
Restructuring charges at affiliates— 6 
Equity income adjustments total— 6 
Adjusted equity income$20 $23 


(g) Adjusted interest expense

The following table reconciles net financing charges to adjusted net financing charges:

Three Months Ended
June 30,
(in millions)20262025
Net financing charges$48 $51 
Interest expense adjustments:
None— — 
Interest expense adjustments total— — 
Adjusted net financing charges$48 $51 


(h) Free cash flow

The following table reconciles cash from operating activities to free cash flow:

Three Months Ended
June 30,		Nine Months Ended
June 30,
(in millions)2026202520262025
Operating cash flow$205 $172 $366 $236 
Capital expenditures(67)(57)(205)(166)
Free cash flow$138 $115 $161 $70 


Appendix
Page 10


The following table reconciles adjusted EBITDA to free cash flow:

Three Months Ended
June 30,		Nine Months Ended
June 30,
(in millions)2026202520262025
Adjusted EBITDA $225 $226 $655 $655 
Adjusted equity income(20)(23)(63)(63)
Dividends from partially owned affiliates50 20 78 72 
Restructuring (cash)(39)(34)(77)(101)
Working capital145 108 105 (38)
Interest paid(53)(55)(150)(142)
Cash taxes(30)(31)(104)(70)
Other(73)(39)(78)(77)
Capital expenditures(67)(57)(205)(166)
Free cash flow$138 $115 $161 $70 


(i) & (j) Net debt and net leverage ratio

The following table presents calculations of net debt and net leverage ratio:

June 30,September 30,
(in millions)20262025
Numerator:
Short-term debt$— $2 
Current portion of long-term debt9 9 
Long-term debt2,379 2,386 
Total debt2,388 2,397 
Less: cash and cash equivalents924 958 
Net debt$1,464 $1,439 
Denominator:
Adjusted EBITDA - last four quarters
Q1 2025 na$196 
Q2 2025na233 
Q3 2025na226 
Q4 2025226 226 
Q1 2026207 na
Q2 2026 - see table (a) & (b)223 na
Q3 2026225 na
Last four quarters$881 $881 
Net leverage ratio1.661.63

Appendix
Page 11

Footnote Addendum

(1) Corporate-related costs not allocated to the segments include executive office, communications, corporate development, legal and corporate finance.

(2) Reflects restructuring charges for costs that are probable and reasonably estimable and one-time asset impairments related
to restructuring activities.

(3) Reflects amortization of intangible assets including those related to partially owned affiliates recorded within equity income.

(4) Reflects restructuring-related charges for costs that are recorded as incurred or as earned and other non-recurring impacts that are directly attributable to restructuring activities:

Three Months Ended
June 30,
(in millions)20262025
Restructuring related charges$(8)$(7)
Restructuring charges at affiliates— (6)
Gain of sale of a restructured facility— 6 
$(8)$(7)

(5) Other items include:

Three Months Ended
June 30,
(in millions)20262025
Transaction costs$(3)$(1)

(6) Reflects the impact of adjustments, primarily purchase accounting amortization on noncontrolling interests.

Source: View Original Filing on SEC EDGAR

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